C Suisse dragged into Russian client dispute

Credit Suisse has been dragged into a second criminal complaint brought by two Russian clients who claim that a former manager in the bank’s wealth management unit made unauthorized transactions to cover up trading losses.

The case creates a hurdle for bank as CEO Tidjane Thiam attempts to build up its wealth management business and move away from riskier investment banking. As the number of complaints grows, the case also threatens to reveal more allegations about trading by the banker who’s accused of taking money from some clients to plug holes in other accounts.

Ian Bolland

A journalism graduate of Liverpool John Moores University. During his time at university, Ian spent time on work experience at local newspapers in Liverpool, Bolton and Wigan, and prior to that he did work for The Observer's 'fans verdict'. Ian also has interests in news, current affairs and business but mostly sport, including football, rugby league, cricket, golf and Formula 1, amongst others.